FX.co ★ USD/JPY: uside continuation pattern

USD/JPY Flag Formation!

The USD/JPY pair registered strong growth in the short term. It has increased as much as 136.68 where it has found a strong supply. Now, it has dropped a little but this retreat could be only a temporary one.

You knew from my analyses that the USD/JPY pair could extend its growth if it jumps and stabilizes above 135.58 former high. Technically, the current drop represents a flag pattern. This formation could bring an upside continuation!

USD/JPY Trading Conclusion!

Staying above the 135.58 and jumping above the flag's upside line (downtrend line) could activate further growth towards new highs. This scenario could help the buyers to catch an upside continuation.